Monopolies and Anti Competitive Practice Legislation in UK

BUSINESS LAW
TASK 3

INTRODUCTION
Laws are framed to protect the customers and investors from
the fraud committed by the company. It is required for the
company to follow the rules and regulations that are under the
act. Business law is also known as commercial law. Laws are
applied on the rights and relations, businesses, trade and sales.
It is formed to provide protection to the customers. Many laws
like sales of goods act, consumer credit agreement and agency,
intellectual property right provide protection to the consumer.

3.1 Monopolies and anti competitive practice legislation in UK
Competition is the essential part for the growth of the business. It is
required to have the effective competition among the business so
that better product and services can be provided to the customers. It
provides growth to the business of country. There are many
opportunities available through the competition. It provides many
benefits to the customers as lower price product.

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Competition law has following sources-
Article 81- It covers anticompetitive agreement. These
agreements are prohibited by the competition law. It is
prohibited because it reduces the competition among the
member state of EU.
Article 82- This article prohibits the abuse of dominant
position. It is totally prohibited because it affects the
competition. This article also restrict the unfair conditions
that may affect the trade in the country.